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  • Online betting company FansUnite Entertainment (FANS) has seen shares jump after receiving two gambling license approvals
  • Company subsidiaries received the Gaming Service License and Critical Gaming Supply License from the Malta Gaming Authority
  • With these licenses, FansUnite will now be able to offer the full spectrum of online gambling services in the European market
  • The company will now begin business development initiatives to promote its iGaming and sports betting services throughout Europe
  • FansUnite Entertainment is up 22.39 per cent and is currently trading for C$0.82 per share

Online betting company FansUnite Entertainment (FANS) has seen shares jump after receiving two gambling license approvals.

Two of the company’s wholly owned subsidiaries, Askott Entertainment and E.G.G Limited received approvals from the Malta Gaming Authority (MGA). The MGA is a gambling regulatory organisation, which provides what is considered to be one of the most prestigious gambling licenses in the industry.

The MGA gave approvals for the Gaming Service License and the Critical Gaming Supply License on December 4, 2020. Both licenses are effective for a term of ten years, from the date of grant. 

With these licenses in hand, FansUnite will now be able to offer the full spectrum of online gambling services in the European market. Such services will include casino, fixed odds betting, pool betting, and controlled skilled games.

FansUnite’s CEO, Scott Burton, called receiving the licenses a major milestone in the development of the company as a betting and iGaming business.

“Having spent years building our technology to a global standard that is desirable by international regulatory bodies, we were able to meet Malta’s extremely stringent and rigorous technical, software, and corporate audits and qualify for two separate licenses,” he said.

“With the approval in hand, we will look to continue executing on our growth strategy, by collaborating with new partners in Europe in order to distribute our sports and esports betting platform along with our RNG casino game titles to an extended customer base,” he added.

The company will now begin business development initiatives to promote its iGaming and sports betting services throughout Europe. These promotions will extend to both end customers and online casino and sportsbook operators in the continent. 

FansUnite Entertainment is up 22.39 per cent and trading for C$0.82 per share, as of 11:41am EST.

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